Titan to explore women's ethnic wear division

Claims it will foray in on a pilot basis which may include setting up a few stores and is expected to last about 12 months until reviewPTI | Updated: October 13, 2016, 14:50 IST

The entry of other key e-commerce players - such as IndianRoots, Craftsvilla, Jaypore and others - in the handicrafts sector has raised hopes of empowering artisans across the country, giving them freedom to choose buyers who can offer them higher prices.

"The company has since inception been exploring opportunities in personal lifestyle categories. One such category is special occasion ethnic wear for women which will now be piloted for understanding consumer attitudes and preferences", Titan Company Ltd said in a BSE filing.

It further said: "The pilot, which may include setting up a few stores, is expected to last about 12 months at the end of which the company will take a decision on the future course of action."

At present, Titan has presence in several personal lifestyle categories including jewellery under Tanishq brand, eyewear under Titan Eye Plus brand and watches under Titan brand.

For financial year 2015-16, Titan reported net profit of Rs. 705.85 crore compared with Rs. 823.07 crore in the previous year. Titan's net sales in the year ended March 31, 2016, stood at Rs. 11,176.9 crore as against Rs. 11,791.04 crore in the previous fiscal year.